Table of Contents

How to Convert a Free Bet

Level: Beginner
Updated: Aug 29, 2023
2 min read

Bet Finder Introduction

If you are new to using Bet Finders on DarkHorse Odds start by reading our Bet Finder Basics guides to learn how to use all the available features such as filters and editing your Bet Slip.

Key Takeaways
  • Free Bets are the most common sportsbook promotion
  • You do not lose any money if a Free Bet loses (You also won't lose money on your 2 day free trial)
  • On a winning bet only the winnings is returned, not the original bet amount (stake)
  • They can typically be converted to cash at 70% of their original value
  • Use the DarkHorse Odds Free Bet Finder to convert

What is a Free Bet?

A Free Bet is what it sounds like, a bet you can place for free. It's, of course, a great sports betting strategy to take advantage of. A Free Bet has two key differences from a normal bet. With a Free Bet:

  • If you lose, you do not lose any money
  • The original bet amount is not returned as part of the winnings
Example payout from winning a $100 bet with +150 odds
Bet Type Wager Returned Winnings Total Payout
Normal Bet $100 $150 $250
Free Bet $0 $150 $150

Converting Free Bets

Free Bets can typically be converted into 70% of their original value. For example, a $100 Free Bet can be converted into $70 of withdrawable cash. To convert a Free Bet you will want to use our Free Bet Finder.

Infographic outlining how to convert a Free Bet Infographic outlining how to convert a Free Bet

Enter Free Bet Criteria

Select the Free Bet Finder:

In all of our guides, we filter to “Main Lines Only” as a way to avoid limits. Limits will greatly reduce your long-term earnings potential. Learn the best practices on avoiding sportsbook limits in our Don't Get Limited guide. You can apply this by selecting Filters -> Main Lines Only. This is not required but highly recommended.

This sets Market Type to Money Line, Spread, and Total. It also sets Market Segment to Full Game+ and Full Game.

Select Your Matched Bet

After selecting the sportsbook where you have the Free Bet and entering the bet amount you will be presented with a table of all available Free Bet conversions. You can then select the matched bet that best fits your needs. The example below shows a $100 Free Bet on Caesars.

Place Your Matched Bet

After selecting the bet you want from the table above, you are presented with the bet slip which provides all the details needed to properly hedge ensuring maximum profit. In this example on Caesars you would place the $100 Free Bet on the Warriors money line at +500. Then place a Hedge Bet on Sports Illustrated of $428 on the Nuggets money line at -599. The Warriors and the Nuggets play each other; therefore one of these two bets will win. Either way, you will profit $72.

Outcome Explanation

Clicking the information icon on the bet slip above displays further details explaining exactly how you profit $72 no matter the outcome of the event.

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